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[XiaNaphryz]

http://www.cbc.ca/news/politics/tim-hortons-burger-king-deal-gets-government-ok-1.2860824

The federal government has approved Burger King's takeover of Tim Hortons, but with conditions intended to protect jobs at the iconic Canadian coffee and doughnut chain.

The merged company becomes the third-largest fast food company in the world, with sales totalling $23-billion annually.

Industry Minister James Moore issued a statement after markets closed Thursday announcing the government's approval under the Investment Canada Act.

The statement said Burger King agreed to the following conditions:

• To keep 100 per cent of Tim Hortons employees at franchises across Canada, and to preserve all of Tim Hortons' charitable work.
• To accelerate the opening of new Tim Hortons restaurants, both in the United States and globally.
• To establish the headquarters of the new company in Oakville, Ont., and to list the company on the TSX.
• To manage Tim Hortons as a distinct brand, without co-branding of any locations in Canada or in the United States.
• To maintain the Canadian franchisee rent and royalty structure at current levels for five years.
• To ensure Canadians represent at least 50 per cent of the membership of the Tim Hortons brand board of directors.

"The result of this transaction is this new global company, with sales of more than $23 billion annually, which will now be based in Canada,'' Moore said in the statement.

"Our government is pleased to see companies like Burger King investing in Canada’s economy and looking to benefit from our low taxes and open markets."

Canada's Competition Bureau approved the deal on Oct. 28, saying it is "unlikely to result in a substantial lessening or prevention of competition."

Critics of the deal had argued the $14-billion offer by 3G Capital — the Brazilian private equity firm that owns Burger King — would lead to widespread layoffs at Tim Hortons and have a negative impact in Canada.

Last month, Tim Hortons reported a 14 per cent drop in profit in the most recent quarter, as the chain was hit by costs related to the U.S. burger chain's deal to buy the company.

The new company will now have 18,000 stores in 100 countries.

 

[Sanjuro]

Time to celebrate!

 

[RS4-]

Donut burgers to be featured at all Timmys

 

[terrisus]

Make sure to check your receipts for hearts!

Spoiler

And penises!

 

[Seth C]

So reading that, they are okay with the merger so long as They operate as two separate companies and Burger King only does it to avoid paying taxes in the US. Sweet. Sounds right.

 

[Divvy]

Well I suppose that's one way to make Tim Horton's shittier

 

[Stet]

Canada's "most iconic brand" is now owned by Brazilians.

 

[Sch1sm]

Canada's "most iconic brand" is now owned by Brazilians.

Maybe they'll send us good coffee in exchange.

 

[Poodlestrike]

So, what I'm getting from this is that I may start seeing Tim Hortons here in the states?

FUCK YES.

 

[sir_kevith]

Make sure to check your receipts for hearts!

Spoiler

And penises!

Gotta order chicken strips!

 

[killer rin]

You gotta love that the Canadian Government just started shoving demands up Burger Kings ass. The terms read as its Timmies absorbing Burger King and not the other way around.

 

[Divvy]

Canada's "most iconic brand" is now owned by Brazilians.

Brazillians bought Canada Goose?

 

[Shining Sunshine]

I wonder if it's a good thing for Timmehs

Better not mess with my TIMBITS!

 

[Stet]

Brazillians bought Canada Goose?

No, mostly Asians.

 

[Spaced Harrier]

We have Tim Hortons in shops in Ireland.

For some reason.

 

[shira]

So wut happens to all the timmys with Wendy's restaurants

 

[tbm24]

Hope this means they'll open more locations in NYC. The two that I know of are quite a ways away from my job .

 

[-Deimos]

So wut happens to all the timmys with Wendy's restaurants

Useless Wendy's gets replaced by less useless BK. Make it so.

 

[Poodlestrike]

Useless Wendy's gets replaced by less useless BK. Make it so.

Jack in the Box > Wendy's >>>> BK >>>>>>>> McDonalds

 

[Reg]

Tax dodging cunts.

 

[stolin]

Better not mess with my TIMBITS!

...incoming...

 

[jstripes]

Well, there goes the Canadian identity.

 

[Megadragon15]

Jack in the Box > Wendy's >>>> BK >>>>>>>> McDonalds

Rememeber when Jack In The Box had an E coli outbreak. They should be last on any fast food franchise list.

 

[-Pyromaniac-]

Start selling whoppers at tims please.

 

[XiaNaphryz]

Rememeber when Jack In The Box had an E coli outbreak. They should be last on any fast food franchise list.

That was over 2 decades ago. They're fine now.

 

[timetokill]

Well, there goes the Canadian identity.

How do you figure? Their most recognized chain is still ruled by a monarchy, just a different one now.

 

[Guy Legend]

I want steep tea in US tim hortons.

 

[shadyspace]

Well, there goes the Canadian identity.

What Canadian identity?

 

[Mihael Mello Keehl]

...incoming...

Is that donut sandwhich?

 

[old]

Hope this means they'll open a tim hortons near me. I've never been.

 

[Madness]

Well, there goes the Canadian identity.

It's nothing new. Everyday life for most Canadians is dominated by US media, and US corporations. Very few things are really Canadian anymore. It's just inevitable.

 

[stolin]

Is that donut sandwhich?

Timbits + Whopper bun.. joke from Calgary radio station Kiss 95.9 (I think that's the source)

 

[umop_3pisdn]

Well I suppose that's one way to make Tim Horton's shittier

Are we sure

 

[Indicate]

It's nothing new. Everyday life for most Canadians is dominated by US media, and US corporations. Very few things are really Canadian anymore. It's just inevitable.

except gun culture

 

[bachikarn]

I went to Tim Horton last year, and it was pretty shitty. Their donuts were pretty bad.

 

[Savitar]

Hamburger donuts.

Homer would approve.

 

[bernardobri]

except gun culture

And health care politics.

 

[MikeDip]

For some reason I thought this was the other way around. Odd.

I still prefer mcdonalds coffee, it's pretty good around here. I tried it once in America though and it was so different but maybe it's in my head.

 

[Delta Assault]

To keep 100 per cent of Tim Hortons employees at franchises across Canada, and to preserve all of Tim Hortons' charitable work.

So they can't fire any Tim Hortons employees now? Even if they go and burn down the building, or sexually harrass coworkers?

 

[Rayis]

Are they going to bring Tim Hortons here to Texas?

yes plz!~

 

[Cmerrill]

Well, there goes the Canadian identity.

It's not like it was Canadian owned anyway. I'm pretty sure Wendy's bought Tim Hortons long ago, there has been nothing Canadian about it for a long time.

 

[DJ_Lae]

One of the conditions should have been for them to require Tim Hortons to bring back in-house dough, rather than the frozen shit that ruined their donuts more than a decade back.

 

[freenudemacusers]

Canada's "most iconic brand" is now owned by Brazilians.

it's the american way

 

[Deraldin]

It's not like it was Canadian owned anyway. I'm pretty sure Wendy's bought Tim Hortons long ago, there has been nothing Canadian about it for a long time.

Tim Horton's hasn't been owned by Wendy's since 2006 when they spun it off into it's own company again.

 

[Varvor]

To establish the headquarters of the new company in Oakville, Ont., and to list the company on the TSX.

This part confuses me....i live in Oakville and we already have Timmies headquarters here just off 403 intresction of Dorval and Wyercroft. Well good to know that they pushing it hard in little town of oaks

 

[bonesmccoy]

The less Tim Horton's is associated with Canadiana the better.

Shit food, shit coffee.

 

[Boston]

I think the biggest shocker here is that Burger King is owned by Brazilians.

 

[chaobreaker]

They better fix the crappy coffee and menu.

 

[diaspora]

Well I suppose that's one way to make Tim Horton's shittier

Impossible.

 

[IISANDERII]

Maybe they'll send us good coffee in exchange.

So how can those conditions be enforced? This reminds of when Harper sold a bunch of Canadian land to the Chinese.